Recession: Buhari to launch economic recovery plan next month

By FactNews on 19/01/2017

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President Muhammadu Buhari will launch an Economic Recovery Growth Plan (ERGP) for Nigeria next month.

The Vice President Yemi Osinbajo made the disclosure yesterday, while speaking to a Business Interaction Group made up of international and local investors and business interests in Davos, Switzerland.

Osinbajo said the newly developed ERGP of the Buhari administration has been specifically designed to take the country out of recession and in the long term continue to grow the economy.

He said the planning of the 2017 budget was also based on the ERGP.

Osibanjo noted that empowerment of Nigerians is at the heart the Buhari’s signature Social Investment Programmed

 “It is about investment in people, in their skills, in youths, that we have a N500B allocation in our budget last year and proposed for this year also,” the VP explained.

“It is an investment in education and educating large numbers of people in a short time, it’s a radical thing to make that kind of serious investment in education, ” referring to the N-Power scheme’s training component for young graduates, and non graduates in artisanal and industrial middle-level skills. He also referred to the planned N100,000 supporting grants to students of higher institutions in Science, Technology, Engineering & Maths, STEM.

The Vice President noted that the Buhari administration is “committed to investing more in infrastructure,” than in previous times by ensuring that 30% of the budget goes into capital expenditure.

 

 

 

Posted on January, 19 2017

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